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ESOP Association Blog

Senator Mike Crapo Speaking at TEA National Conference 2022

TEA is excited to announce that Senator Mike Crapo, a lifelong Idahoan and the 13th most senior Senator in the current Congress, will be addressing the in-person and virtual attendees of TEA’s National Conference 2022.  Senator Crapo is important to our community and has supported employee ownership through his numerous committees that directly impact ESOPs.

Finance Committee— Senator Crapo joined the Senate Finance Committee in 2005 and became the top Republican on the Committee in February 2021.  The Senate Finance Committee deals with legislation relating to federal tax policy; federal social safety net and retirement policy; health care programs; and trade agreements.  Senator Crapo supports free market policies to fuel economic growth. Building on the successes of the 2017 tax reform law, increasing access to quality, affordable health care and promoting the U.S. global trade competitiveness are among his top priorities.  In this important role, Senator Crapo’s views have direct and consequential impacts on our membership.

Banking Committee— Additionally, Senator Crapo is a current member and former Chairman and Ranking Member of the Senate Committee on Banking, Housing and Urban Affairs.  This committee oversees the efforts to promote the stability of the financial system and responsible lending to families and businesses, among other areas.

Budget Committee—Since 2003 Senator Crapo has also served as a member of the Senate Budget Committee, primarily responsible for crafting Congress’s annual budget plan. 

Joint Committee on Taxation—Senator Crapo also serves on the Joint Committee on Taxation, a bipartisan committee with members of both the House and Senate who work collaboratively on tax legislation.

In the Senate, Senator Crapo has been a long-time supporter of Employee Stock Ownership Plans including more than a dozen pro-ESOP bills, such as the Promotion and Expansion of Private Employee Ownership Act.  He continues to serve as Chief Deputy Whip among Senate Republicans in the current (117th) Congress.  Senator Crapo served as one of the lead negotiators in crafting major COVID-19 relief legislation, shaping many of the provisions of the Coronavirus Aid, Relief and Economic Security (CARES) Act designed to provide significant economic support to severely distressed sectors of the U.S. economy.

Before his election to the United States Senate in 1998, Senator Crapo served three terms as the 2nd District Representative for Idaho in the U.S. House of Representatives. During his House tenure, he served as part of the House Leadership in several roles.  He also served in the Idaho State Senate from 1984 to 1992 and spent four years as Senate President Pro Tempore.

Prior to serving in Congress, he was a partner in the law firm of Holden, Kidwell, Hahn & Crapo. He is a member of the Idaho and California Bar Associations and the Bar of the U.S. Supreme Court. He received his Juris Doctorate cum laude from Harvard Law School in 1977, and he graduated summa cum laude from Brigham Young University in 1973 with a B.A. in political science. Following graduation from law school, he served a one-year clerkship with the 9th Circuit Court of Appeals.